RISE PUBLISHES 'CRASH TO COME' REPORT

RISE - Scotland's Left Alliance has today published a detailed new report into the state of the British economy.

The paper, written by Sheffield University economist Scott Lavery, analyses four areas of British economic 'imbalance' - a substantial current account deficit, growing levels of household debt, wage repression and high levels of inequality, and the over-concentration of economic activity in London and the South East - that render the UK particularly vulnerable to sudden global economic shocks.

The report was launched at Renfield St Stephen's Centre in Glasgow on Saturday. More than 150 people attended the meeting. The speakers included economic journalist Paul Mason, Glasgow University sociologist Bridget Fowler, Herald columnist Iain Macwhirter, and RISE candidate Cat Boyd.

Commeting, Cat Boyd said:

"This report is the most thorough analysis of the UK economy any Scottish party is likely to publish in this election.

"With economic power concentrated in London and the South East, household debt levels fast approaching their pre-recession peak, long-term wage stagnation, and rampant inequality, Britain's economy is the worst equipped of any in Europe to cope with the effects of another serious global downturn.

"George Osborne's policies have made the situation worse, that's why his 'long-term economic plan' just keeps on getting longer.

"The deeper Osborne cuts, the more anaemic British growth becomes, and the deeper he cuts again. It's a cycle of stupidity.

"Scotland shouldn't let it's future be held hostage by an austerity agenda that is too extreme even for Iain Duncan Smith.

"We need a rolling mandate for an independence referendum.

"If elected to Holyrood in May, RISE MSPs will present a motion to the Chamber that affirms Scotland's right to hold a referendum at the time of Holyrood's choosing, with or without Westminster's permission."